Clearway Energy, Inc. $CWEN Shares Acquired by Flputnam Investment Management Co.

Flputnam Investment Management Co. grew its position in Clearway Energy, Inc. (NYSE:CWEN) by 547.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 117,168 shares of the company’s stock after acquiring an additional 99,082 shares during the period. Flputnam Investment Management Co.’s holdings in Clearway Energy were worth $3,897,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CWEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Clearway Energy by 12.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,333 shares of the company’s stock valued at $1,070,000 after purchasing an additional 3,787 shares during the period. Jump Financial LLC purchased a new position in Clearway Energy in the second quarter valued at $215,000. Cerity Partners LLC boosted its holdings in Clearway Energy by 1.8% in the second quarter. Cerity Partners LLC now owns 68,489 shares of the company’s stock valued at $2,192,000 after purchasing an additional 1,180 shares during the period. Brevan Howard Capital Management LP boosted its holdings in Clearway Energy by 233.7% in the second quarter. Brevan Howard Capital Management LP now owns 45,896 shares of the company’s stock valued at $1,469,000 after purchasing an additional 32,144 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new position in Clearway Energy in the second quarter valued at $2,352,000. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CWEN. Wall Street Zen upgraded Clearway Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Deutsche Bank Aktiengesellschaft set a $41.00 target price on Clearway Energy in a report on Thursday, April 9th. Weiss Ratings lowered Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. UBS Group set a $45.00 target price on Clearway Energy in a report on Tuesday, February 24th. Finally, Morgan Stanley lifted their target price on Clearway Energy to $60.00 and gave the company an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Clearway Energy Stock Up 0.5%

Shares of NYSE CWEN opened at $40.39 on Thursday. The company has a market capitalization of $8.29 billion, a price-to-earnings ratio of 1,010.03 and a beta of 0.87. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02. The business has a 50-day moving average of $39.08 and a two-hundred day moving average of $37.01. Clearway Energy, Inc. has a 1 year low of $27.67 and a 1 year high of $41.60.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). The business had revenue of $354.00 million for the quarter, compared to analysts’ expectations of $340.75 million. Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%. On average, analysts forecast that Clearway Energy, Inc. will post -0.41 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.4676 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.87 dividend on an annualized basis and a yield of 4.6%. Clearway Energy’s dividend payout ratio (DPR) is presently 4,600.00%.

Clearway Energy Company Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.